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Crown Asset Management (CAM) is a company that purchases overdue consumer debts from banks, auto lenders, and fintech firms. Since 2004, CAM has acquired over 500 portfolios, managing $1.5 billion in delinquent accounts. Instead of collecting debts directly, CAM works with a network of vetted agencies and law firms to handle collections.
Key facts about CAM:
CAM focuses on compliance and consumer protection, ensuring that collection activities follow strict legal guidelines. The company uses data-driven strategies to evaluate debt portfolios and provide liquidity to creditors looking to sell non-performing accounts.
Crown Asset Management Key Statistics and Portfolio Acquisition Overview
Crown Asset Management (CAM) acquires debt portfolios from various original creditors, including banks, auto lenders, fintech firms, and marketplace lenders. Under the leadership of Senior VP Bob Deter, the acquisition team conducts a no-obligation review and valuation of portfolios, ensuring informed decision-making.
The company's leadership has played a role in the purchase and sale of over $8.0 billion in face value of receivables. CAM relies on its long-standing relationships and active participation in organizations like RMAI, ACA International, and NCBA to identify sourcing opportunities.
To support its acquisition process, CAM secures strategic credit facilities from partners such as Wells Fargo Foothill and Genesis Financial Services Fund. The company uses predictive analytics during due diligence to evaluate portfolio performance and determine pricing. This data-driven approach helps CAM assess risks and estimate potential returns before finalizing any purchase.
"This facility will open new doors for us and allow us to participate in deals with our established business relationships in a more meaningful way." - Brian K. Williams, Chief Executive Officer, Crown Asset Management
CAM provides creditors with two main acquisition options: forward flow agreements and bulk portfolio purchases. Forward flow agreements enable creditors to sell portfolios on a regular basis, ensuring predictable cash flow. Meanwhile, bulk portfolio purchases allow creditors to sell non-performing accounts periodically. These flexible structures cater to varying creditor needs and provide tailored solutions.
Crown Asset Management focuses on acquiring distressed, non-performing, and charged-off consumer receivables across a variety of categories. Since its inception, the company has purchased over 500 consumer credit portfolios, targeting specific debt types that align with its expertise and operational strengths. This targeted approach enhances CAM's competitive edge in the marketplace.
| Debt Category | Specific Portfolio Types |
|---|---|
| Consumer Banking | Credit Cards, Consumer Loans |
| Automotive | Automobile Loans, Auto Deficiencies |
| Fintech | Marketplace Lending |
| Legal/Specialty | Judgments, Specialty Portfolios |
CAM has worked with lenders like Cross River Bank and fintech companies such as Upstart Network and Upgrade, Inc. to acquire accounts at various stages of the recovery lifecycle - from recently charged-off accounts to older, discharged debt.
Crown Asset Management purchases debt portfolios at significant discounts - often for just pennies on the dollar. These acquisitions are typically priced based on the net present value (NPV) of the accounts, offering creditors immediate liquidity instead of waiting for long-term recoveries.
"Crown Asset Management (CAM) purchases charged-off account portfolios, providing immediate cash to creditors so they can focus on infrastructure, growth, and development of new innovations." - Crown Asset Management
This pricing model helps creditors offload non-performing assets, freeing up capital for reinvestment in core operations. CAM also positions its debt purchase process as a "backstop" for distressed accounts, helping creditors stabilize cash flow amidst economic or seasonal fluctuations. Additionally, the company prioritizes brand protection, ensuring that the collection process does not harm the original creditor's reputation. This approach may even help creditors rebuild relationships with consumers in the future. By focusing on fast liquidity and risk mitigation, CAM aligns its financial strategies with the needs of its partners.
Crown Asset Management (CAM) takes a hands-off approach to direct collection activities by outsourcing 100% of its operations to a network of third-party collection agencies and law firms. These partners, covering all 50 U.S. states, are responsible for managing consumer interactions and resolving accounts. Once CAM acquires a portfolio, accounts are immediately assigned to these vetted agencies and legal firms.
"Following a portfolio purchase, accounts are placed with our vetted outsourced network of collection agencies and attorneys who contact consumers to reach account resolution."
- Crown Asset Management
Joel May, CAM's Chief Compliance Officer, oversees the third-party network to ensure compliance with regulatory standards and timely resolution of consumer concerns. Before onboarding, all partners undergo a rigorous evaluation process. This process includes ongoing audits to confirm adherence to security protocols, licensing requirements, training standards, insurance coverage, and dispute-resolution practices.
| Vetting & Monitoring Criteria | Description |
|---|---|
| Security Protocols | Assessment of physical and data security measures, including information access and storage |
| Regulatory Compliance | Verification of state and local licensing, plus compliance with FDCPA and FCRA |
| Operational Standards | Review of training programs, insurance policies, and accounting practices |
| Consumer Relations | Monitoring of dispute resolution and account management protocols |
By delegating collection responsibilities, CAM maintains a clear line between owning debts and managing their collection.
As the owner of the debts, CAM separates its role as a creditor from the actual collection activities. Consumers are directed to work with the assigned collection agency or law firm for payments, disputes, or inquiries - never directly with CAM. This distinction is critical, as courts classify CAM as a debt collector under the Fair Debt Collection Practices Act (FDCPA).
"All collection activity on accounts owned by Crown Asset Management is professionally managed by our outsourced nationwide network of collection agencies and law firms."
- Crown Asset Management
This operational structure helps CAM protect its reputation while holding its partners accountable through a robust vendor management system. By maintaining clear boundaries, CAM ensures compliance and transparency, safeguarding consumer interests and reinforcing trust in its processes.
CAM's structured approach to collections and its commitment to compliance are supported by a comprehensive Compliance Management System (CMS). This system undergoes frequent third-party audits to ensure alignment with federal, state, and local regulations. Policies are also reviewed regularly based on the Consumer Financial Protection Bureau's Supervision and Examination Manual. As a Certified Receivables Business, recognized by the Receivables Management Association International under Certification Number C1408-1023, CAM adheres to strict ethical standards.
Consumers can submit feedback or complaints directly to CAM through its Chief Compliance Officer at cco@crownasset.com. Meanwhile, CAM ensures its partners follow FDCPA regulations, such as providing written debt notices within five days of initial contact and honoring a 30-day dispute period.
"CAM strictly adheres to all applicable state, local, and federal regulations pertaining to the collection of receivables and maintains a comprehensive Compliance Management System (CMS) which undergoes routine third-party audit."
- Crown Asset Management
For cases involving fraud or identity theft, consumers are advised to contact the assigned collection agency or law firm. These specialized partners are equipped to handle such disputes, ensuring that consumer protections remain a top priority throughout the process.
Crown Asset Management's approach to debt acquisition is deeply rooted in adhering to legal standards, particularly the Fair Debt Collection Practices Act (FDCPA). Enacted on March 20, 1978, the FDCPA serves as the cornerstone federal law regulating debt collection practices across the United States. It aims to prevent abusive, unfair, or deceptive practices and applies to debt buyers like Crown Asset Management, even when they outsource consumer interactions.
A pivotal moment came in February 2019 when the Third Circuit Court of Appeals clarified debt buyer obligations under the FDCPA in the case of Mary Barbato v. Crown Asset Management LLC. This involved a 2007 consumer credit card debt that defaulted in 2010. Crown purchased the debt in 2013 and enlisted Turning Point Capital, Inc. for collection. Although Crown did not directly interact with Barbato, the court ruled that the company qualified as a "debt collector" under the FDCPA's "principal purpose" clause.
"As long as a business's raison d'être is obtaining payment on the debts that it acquires, it is a debt collector. Who actually obtains the payment or how they do so is of no moment."
- Third Circuit Court of Appeals
This ruling underscored that outsourcing collection activities does not exempt debt buyers from FDCPA compliance. The court highlighted that because Crown's primary business involves purchasing debts - 90% to 95% of which are consumer accounts - it meets the definition of a debt collector. Additionally, the decision introduced vicarious liability, meaning Crown could be held accountable for FDCPA violations committed by its third-party collectors, even if it did not directly oversee the misconduct.
Under the FDCPA, debt collectors must follow strict guidelines. For example, within five days of initial contact, they are required to provide written validation notices detailing the debt amount, creditor's name, and instructions for disputing the debt. Communication is limited to between 8:00 a.m. and 9:00 p.m. local time, and violations may result in penalties, including actual damages, up to $1,000 per individual, or up to $500,000 or 1% of net worth in class actions. Beyond these federal requirements, debt buyers must also meet additional regulatory expectations.
In addition to the FDCPA, Regulation F (12 CFR Part 1006) outlines rules for electronic communications, validation notices, and recordkeeping. This regulation governs how debt buyers handle emails, text messages, and time-barred debts while requiring them to maintain records proving compliance, such as disclosure forms and communication logs.
| FDCPA Provision | Requirement/Prohibition |
|---|---|
| Section 805 | Limits communication to appropriate times and places; prohibits contact if the consumer has legal representation |
| Section 806 | Forbids harassment or abuse, including obscene language or excessive calls |
| Section 807 | Bans false, deceptive, or misleading statements about the debt's nature, amount, or legal status |
| Section 809 | Requires a validation notice and halts collection efforts if the debt is disputed until verification is provided |
Debt buyers also face state-specific licensing rules and must maintain thorough documentation for all acquired accounts. This includes verifying the default status and type of debt before purchase, setting clear settlement policies for third-party collectors, and having procedures in place to recall accounts in cases of bankruptcy filings or deceased consumers. To ensure compliance, debt buyers are expected to closely monitor their third-party partners' activities.
"Passive debt buyers... should bear the burden of monitoring the activities of those they enlist to collect debts on their behalf."
- Ballard Spahr LLP
When pursuing legal action to enforce a debt, collectors must file in the jurisdiction where the consumer signed the contract or currently resides. These venue rules, combined with the need for active oversight, create a comprehensive regulatory framework that safeguards consumers while holding debt buyers accountable for both their practices and those of their third-party agents.
Before engaging in transactions with Crown Asset Management, it's important to verify their RMAI Certification (C1408-1023). This certification, which designates them as a "Certified Receivables Business", ensures compliance with industry standards, including mandatory education, ethical practices, and thorough third-party audits.
Key documents like the "Bill of Sale" and account-level data spreadsheets are critical for establishing the legal transfer of ownership. These records provide the foundation for Crown’s ability to enforce debts in court if needed. Additionally, creditors should assess Crown's vendor management system, which includes audits of partner agencies for physical and data security, licensing, insurance coverage, and procedures for handling consumer disputes.
For assurance of ongoing compliance, request summaries of Crown’s third-party audits conducted under the RMAI Receivables Management Certification Program (RMCP). These audits are part of the company’s Compliance Management System (CMS), which is regularly reviewed in alignment with the CFPB’s Supervision and Examination Manual. If specific regulatory questions arise, creditors can reach out directly to Crown's Chief Compliance Officer, Joel May.
Crown Asset Management’s focus on thorough documentation and vendor oversight supports accurate portfolio valuation. The company offers free portfolio reviews and valuations for liquidating non-performing consumer credit portfolios. With experience handling over 500 consumer credit portfolios since 2004 - totaling more than $600 million in delinquent receivables - Crown leverages its extensive historical data to inform its evaluations.
Debt buyers in the industry typically purchase portfolios for 1% to 10% of the debt’s face value, and Crown’s pricing models are shaped by recovery forecasts developed through its network of vetted collection agencies and legal partners. They evaluate a range of distressed receivables, including credit cards, auto loans, consumer loans, marketplace lending, judgments, and specialty portfolios. For a detailed portfolio review, creditors can contact Bob Deter, the Senior Vice President of Portfolio Acquisition.
Crown Asset Management’s operational and compliance standards make them a strong candidate for partnership. Since its founding in 2004, the company has earned consistent industry recognition, including being named one of the "Best Places to Work in Collections" for five consecutive years (2020-2024). Membership in key associations such as ACA International, the National Creditors Bar Association (NCBA), and the Auriemma Roundtables’ Consumer Relations Consortium further highlights their industry involvement.
Crown’s transparency in operations, including regular CMS updates aligned with CFPB guidelines, demonstrates their commitment to protecting the reputation of originating creditors. Their partnerships with rigorously vetted agencies ensure brand protection while offering direct consumer feedback channels, including reporting lines to the Chief Compliance Officer.
When considering Crown as a partner, it’s essential to confirm that their CMS is updated regularly to align with CFPB standards, minimizing regulatory risks. As the "current creditor" after acquiring debt, Crown assumes full legal ownership, making it crucial to verify their high standards for documentation and chain-of-title processes.
"This facility will open new doors for us and allow us to participate in deals with our established business relationships in a more meaningful way."
- Brian K. Williams, Chief Executive Officer
Founded in 2004, Crown Asset Management has become a prominent name in debt trading. Over the years, the company has acquired more than 500 consumer credit portfolios, totaling close to $1.5 billion in delinquent receivables. Unlike traditional collection agencies, Crown's model revolves around purchasing legal ownership of debt and collaborating with carefully vetted collection agencies.
Crown has built its reputation on a solid acquisition strategy, offering tailored solutions for creditors looking to liquidate portfolios. With its RMAI Certification (C1408-1023) and complimentary portfolio reviews, the company provides a dependable framework for creditors making liquidation decisions. Crown's financial strength is evident through its track record, which includes CEO Brian K. Williams’ involvement in transactions exceeding $8.0 billion in face value since 2002 and the recent $22 million credit facility secured for portfolio acquisitions.
The company also emphasizes compliance and operational rigor. Its Compliance Management System, vendor oversight processes, and clear chain-of-title practices ensure transparency and adherence to industry standards. Further reinforcing its stability, Crown has been recognized as one of the Best Places to Work in Collections for five consecutive years (2020–2024), reflecting a strong professional culture and employee satisfaction.
For consumers with accounts owned by Crown, payment arrangements, disputes, or inquiries should be directed to the designated collection agency or law firm managing the account.
As the industry shifts toward greater emphasis on certification and compliance, Crown’s established practices across credit cards, auto loans, consumer loans, marketplace lending, and judgments position it as a trusted partner for creditors and stakeholders alike. Crown Asset Management continues to demonstrate the strategic and compliant approach necessary to thrive in the evolving debt trading landscape.
You can verify that Crown Asset Management (CAM) owns your debt by asking them for validation or proof of ownership. Federal and state laws mandate that they provide this information when requested.
If you have questions or concerns about the debt appearing on your credit report, you can contact Crown Asset Management directly. Their toll-free customer service number is (866) 696-4442, and they’ll be able to assist you.
Before selling a portfolio to CAM, it's important to gather detailed information about its composition. This includes specifics like the types of debt it contains, the age of the accounts, and their performance history. Additionally, inquire about compliance details and the valuation process. This ensures you have a clear understanding of the portfolio and can make well-informed decisions with full transparency.
More than a decade of Ivan's career has been dedicated to Finance, Banking and Digital Solutions. From these three areas, the idea of a fintech solution called Debepxert was born. He started his career in Big Four consulting and continued in the industry, working as a CFO for publicly traded and digital companies. Ivan came into the debt industry in 2019, when company Debexpert started its first operations. Over the past few years the company, following his lead, has become a technological leader in the US, opened its offices in 10 countries and achieved a record level of sales - 700 debt portfolios per year.
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